Press release

NICE Actimize Introduces CDD-X, Modernizing KYC/CDD Programs with Advanced Analytics and the Power of AI

Sponsored by Businesswire

NICE Actimize, a NICE (Nasdaq: NICE) business and the leader in
Autonomous Financial Crime Management announces the launch of CDD-X, the
next-generation Know Your Customer/Customer Due Diligence (KYC/CDD)
solution. NICE Actimize CDD-X is the latest addition to the Actimize
Autonomous AML solution set that leverages the power of artificial
intelligence and machine learning to provide more accurate detection and
customer risk scoring to reduce compliance risk. Significant reduction
in operational costs are realized through the innovative use of
visualization and purpose-built intelligent automation to streamline
customer review times by up to 70 percent.

The Power of X-Sight AI
NICE Actimize CDD-X leverages the
secure cloud-based analytics optimization service, X-Sight
ActimizeWatch, to apply machine learning to enhance the accuracy of risk
ratings using the collective intelligence of previous outcomes. New
Predictive Risk Scoring analytics used in CDD-X lead to better high-risk
customer management, enhanced due diligence (EDD), periodic review, and
ongoing monitoring.

These analytics also streamline the onboarding process, critical for
financial services organizations looking to grow their business, by
reducing unnecessary customer friction while providing the opportunity
for better business interaction with their customers. Managing analytics
in the cloud introduces cost-predictability and reduces the spend
previously required to optimize KYC-AML systems.

“NICE Actimize’s CDD-X is a game changer, helping organizations bring
relief to what is currently a massive spend, while improving accuracy
when assessing customer risk. A robust AML program starts with a strong
KYC/CDD process,” said Craig Costigan, CEO, NICE Actimize.
“Regulatory agencies across the globe are encouraging financial
institutions to explore technology innovations incorporating AI and
machine learning to improve their compliance programs, and CDD-X is a
good place to start in any journey to stronger, more cost-effective AML

Additional capabilities of the NICE Actimize CDD-X solution include:

  • Entity Insights – Provides a visual, holistic view of entity
    risk for faster, simpler and more precise resolution, offering massive
    efficiency gains for analyst teams. Analysts may lack a holistic
    customer view and incomplete data, which can lead to incorrect
    classification of the customer risk. Enhanced customer profiles in
    CDD-X present up-to-date information and risk factors, save time for
    the analysts, and offer easy to enhance entity and alert information
    for more up to date information such as Beneficial Ownership data.
  • Intelligent Automation – Infused with Actimize expertise, CDD-X
    includes embedded automation to streamline tasks related to ultimate
    beneficial ownership (UBO), adverse media, data flow with customer
    relationship management (CRM) systems, and more.
  • Data Source Library – By enabling a curated set of pre-built
    connectors, CDD-X leverages 3rd party risk factors to
    increase the accuracy of customer risk ratings during onboarding and
    ongoing monitoring to provide more intelligence to analysts.
    Additionally, the pre-built connectors make integration simple where
    data acquisition and aggregation has traditionally been difficult.

“Increased speed and efficiency in KYC-CDD is sorely needed to reduce
the operational burden of compliance and to support the faster pace of
digital financial services. Just in time, next generation technologies
like intelligent automation are streamlining resource intensive KYC
processes and bringing them into the digital age,” said Neil Katkov,
PhD, Head of Risk, at research and advisory firm Celent

NICE Actimize Autonomous Anti-Money Laundering Suite
Actimize’s Autonomous AML modernizes AML programs through a unique
combination of AI, machine learning, domain expertise, Intelligent
Automation and visual storytelling to better combat money-laundering and
terrorist financing. It keeps programs up-to-date with regulatory
compliance while creating a single integrated view of the customer. In
addition to CDD-X, the suite includes solutions for Suspicious Activity
Monitoring, Watch List Filtering, Suspicious Transaction Activity
Reporting (STAR), Currency Transaction Reporting (CTR) and X-Sight
ActimizeWatch, secure cloud-based managed analytics service that
delivers laser-sharp financial crime detection by actively monitoring
analytics performance.

For more information:

  • On NICE Actimize’s CDD-X Solution e-book, please click
  • On NICE Actimize’s CDD-X Solution brochure, please click
  • To register for NICE Actimize’s upcoming May 21 webinar, “A Powerful
    AML Program Starts with the New CDD-X,” please click
  • On NICE Actimize Autonomous Financial Crime Management (AFCM), please click

NICE Actimize
NICE Actimize is the largest and broadest
provider of financial crime, risk and compliance solutions for regional
and global financial institutions, as well as government regulators.
Consistently ranked as number one in the space, NICE Actimize experts
apply innovative technology to protect institutions and safeguard
consumers and investors assets by identifying financial crime,
preventing fraud and providing regulatory compliance. The company
provides real-time, cross-channel fraud prevention, anti-money
laundering detection, and trading surveillance solutions that address
such concerns as payment fraud, cybercrime, sanctions monitoring, market
abuse, customer due diligence and insider trading. Find us at,
@NICE_Actimize or Nasdaq: NICE.

About NICE
NICE (Nasdaq: NICE) is the world’s leading
provider of both cloud and on-premises enterprise software solutions
that empower organizations to make smarter decisions based on advanced
analytics of structured and unstructured data. NICE helps organizations
of all sizes deliver better customer service, ensure compliance, combat
fraud and safeguard citizens. Over 25,000 organizations in more than 150
countries, including over 85 of the Fortune 100 companies, are using
NICE solutions.

Trademark Note: NICE and the NICE logo are trademarks or
registered trademarks of NICE Ltd. All other marks are trademarks of
their respective owners. For a full list of NICE’s marks, please see:

Forward-Looking Statements
This press release contains
forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements, including the statements by Mr. Costigan, are based on the
current beliefs, expectations and assumptions of the management of NICE
Ltd. (the Company). In some cases, such forward-looking statements can
be identified by terms such as believe, expect, may, will, intend,
project, plan, estimate or similar words. Forward-looking statements are
subject to a number of risks and uncertainties that could cause the
actual results or performance of the Company to differ materially from
those described herein, including but not limited to the impact of the
global economic environment on the Company’s customer base (particularly
financial services firms) potentially impacting our business and
financial condition; competition; changes in technology and market
requirements; decline in demand for the Company’s products; inability to
timely develop and introduce new technologies, products and
applications; difficulties or delays in absorbing and integrating
acquired operations, products, technologies and personnel; loss of
market share; an inability to maintain certain marketing and
distribution arrangements; and the effect of newly enacted or modified
laws, regulation or standards on the Company and our products. For a
more detailed description of the risk factors and uncertainties
affecting the company, refer to the Company’s reports filed from time to
time with the Securities and Exchange Commission, including the
Company’s Annual Report on Form 20-F. The forward-looking statements
contained in this press release are made as of the date of this press
release, and the Company undertakes no obligation to update or revise
them, except as required by law